What is a “credit reporting agency” under the Fair Credit Reporting Act (FCRA)?

Although the law is fairly clear about the rights of consumers, it isn’t always easy for the average person to make sense of the language of the law. One term you might see a lot as you look into your credit rights under the law is “credit reporting agency.” But what does that really mean for the consumer?

Understanding “Credit Reporting Agencies” and “Information Suppliers”

For the purposes of the Fair Credit Reporting Act (FCRA), a “credit reporting agency” is any legal entity—such as a company or a person—who reports or collects your credit information. This can include:

Credit bureaus, like Equifax, Experian, and TransUnion

The person or company that furnishes credit information for employment background checks

The person or company that furnishes credit information to landlords

Any person or company that collects, sells, or makes decisions about your credit information

Additionally, you have probably also seen the term “information supplier” as you’ve been researching your consumer rights or how to fix your credit report. Under the FCRA, “information suppliers” are the companies and other legal entities that give credit information to the credit reporting agencies, such as a company or legal entity that you owe money to. Both credit reporting agencies and information suppliers owe certain obligations to consumers under the FCRA, and consumers are given the right to take action when these entities violate their rights.

If you’re feeling overwhelmed with legal language and complex laws, don’t be afraid to ask questions and ask for help. There are many incidents of credit reporting agencies and information suppliers around the nation violating the FCRA, but many consumers are unaware that they have options for protecting themselves and their credit history.

Confused About Your Rights and How You Can Take Action? Get Experienced Help Today

If you need help protecting and fighting for your consumer rights, don’t wait any longer to get experienced help. At the Consumer Law Group, we help individuals speak up for their rights against companies and creditors, and we take pride in our history of successful cases. We can carefully explain your options and your rights—in language you understand—and make sure that you can make informed decisions about your situation. For immediate assistance with your concerns, you can call us today at 804-282-7900 or fill out the convenient contact form on this page.